But Stephen Scogna, the newly named CEO of the Arlington Heights-based hospital, wrote in a memo to its medical staff today that the hospital board voted Monday against any partnership.

The board decided that “NCH is best equipped to meet the future needs of our community by having the flexibility to be innovative and nimble in the current healthcare environment,” Stephen Scogna wrote in an email message, which was obtained by Crain's.

One system that had participated in Northwest's request-for-proposal process was Advocate Health, the state's largest hospital network. Advocate recently closed the acquisition of Sherman Hospital in Elgin, its 12th hospital.

More hospital systems in Illinois and across the country are merging to form still larger networks in an effort to find financial security in uncertain times. With expenses rising and revenues under pressure from both government and commercial payers, hospital margins are thinning.

Northwest posted $477 million in revenue for the year ended Sept. 30, according to financial statements. It recorded $11.7 million in operating income for the fiscal year, its first annual operating profit since 2008. It gained $5.6 million operating income in the quarter ended Dec. 31.

Mr. Scogna replaces Bruce Crowther, who had been the top executive for about 20 years.

Mr. Crowther will remain with the hospital to ease the handoff of power and handle special projects.